First-Floor Office
For Sale
$135,000
555 W Granada Boulevard, Ormond Beach, FL 32174
Commercial Sale, Ormond Beach, FL
Property Size766 SF
Lot Size0.01 Acres
Price / SF$176.24
Days on Market143
Property Features for 555 W Granada Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Parking Lot
Directions
From I-95, take Exit 268 for FL-40 / Ormond Beach / Granada Blvd. Head east on Granada Blvd (FL-40) toward Ormond Beach. Continue straight for about 2.5 miles. Look for 555 West Granada Blvd on your left-hand side. It is located in The Boulevard Executive Park.
Subdivision
45 - Ormond N of 40, W of US1, E of 95
Standard status
Active
APN
4241-28-03-0060
Size
766 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UNIT 6 BLDG C THE BOULEVARD I CONDO PER OR 3206 PG 0218 PER OR 4383 PG 3727
Tax Annual Amount
1187
HOA Fee
$305 Monthly
Legal Description
UNIT 6 BLDG C THE BOULEVARD I CONDO PER OR 3206 PG 0218 PER OR 4383 PG 3727
Utilities
Heating system
Central
Building Details
Year built
1988
Listing Agency:
Realty Pros Assured
(386) 677-7653
Listed By:
Buzzy Porter
(386) 547-5545
Added: Apr 16
Changed: Aug 20
Last Checked: Sep 5 at 4:06AM
MLS# 1225335
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 766-square-foot office unit occupies the first floor of a commercial property built in 1988. The layout includes a front waiting area, three separate rooms with a larger rear room, two closets, and a handicap-accessible bathroom. Luxury vinyl flooring was installed in 2025, and central heating serves the space.
The property is located at 555 W Granada Boulevard in Ormond Beach, Florida, within Boulevard Executive Park. The setting provides access to major roadways and public transportation, with a parking lot serving the property. The configuration supports professional office, service-based business, or administrative use.
The property is located at 555 W Granada Boulevard in Ormond Beach, Florida, within Boulevard Executive Park. The setting provides access to major roadways and public transportation, with a parking lot serving the property. The configuration supports professional office, service-based business, or administrative use.
Key Highlights
- 766 square feet of office space
- First‑floor layout with front waiting area and three separate rooms
- Luxury vinyl flooring installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,479
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$229,580
$229.6K
Cap Rate 7%
$163,986
$164.0K
Cap Rate 9%
$127,544
$127.5K
Market Conditions
NOI Build-Up for 766 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$16.5K $21.60/SF
− Vacancy
−$1.2K −$1.62/SF
EGI
$15.3K $19.98/SF
− OpEx
−$3.8K −$5.00/SF
NOI
$11.5K $14.99/SF
Area
Volusia County, FL
Vacancy
7.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$229,580
Cap Rate 7%
$163,986
Cap Rate 9%
$127,544
Alternative Uses
Best Use
Office B
$164.0K
$143.5K – $191.3K
NOI $11,479 @ 7.0% cap · market cap 8.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$225.9K
$197.6K – $263.5K
NOI $15,810 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,180
Businesses Nearby
Explore this area
Business Placement
Demographics for 32174, FL
53,097
Population
26,303
Households
2
Avg Household Size
55
Median Age
33%
College-Educated
93%
High-School Grad
125.4 sq mi
ZIP Area
423
Density / Sq Mi
$67,817
Median Household Income
$41,452
Median Earnings
$1,316
Median Rent
$315,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Three-room professional suite with accessible restroom, storage closets, and updated luxury vinyl flooring.
Where is this office units located?
The property is located at 555 W Granada Boulevard Ormond Beach, FL.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: 766 square feet of office space; First‑floor layout with front waiting area and three separate rooms; Luxury vinyl flooring installed in 2025
